3 Buzzing Social Media Stocks: Facebook Introduces the Hashtag, Pandora Faces Lawsuit, and Groupon Doesn’t Mix With Dubai
Facebook (NASDAQ:FB): The hashtag has been long associated with Twitter, but the conversation-thread organization method has made its appearance on Facebook, too. Facebook’s Greg Lindley framed the feature as part of a larger push for “public conversations” on the social network, which has always been more about friend-to-friend interactions than Twitter-like broadcasting, the Christian Science Monitor says. The hashtag formally went live on Wednesday afternoon.
Pandora Media (NYSE:P): Music licensing firm BMI is prepping to sue Pandora, in the wake of the streaming service’s controversial purchase of a South Dakota radio broadcaster in efforts to secure lower royalty rates. The service is also losing respect from those who provide its core business: ”any shred of credibility that Pandora had as the songwriters’ partner is now gone. They are waging war on songwriters,” said David Israelite, president of the National Music Publishers’ Association.
Groupon (NASDAQ:GRPN): Apparently, the daily deals service isn’t thought very highly of in other parts of the world. In Dubai, at one of the most expensive hotels in the world, the choice for the hotel to use Groupon in its campaign brought on a wave of criticism, and has left the Burj Al Arab defending its use of the promotion tool. According to a hotel spokesperson, the decision to use Groupon Premium was made with the intention of changing the local community perception of the hotel as being “inaccessible.”